A New York Loss-Mitigation Request — By Debtor is a legal document that allows a debtor in New York State to restructure or reduce their debts in an effort to prevent foreclosure and repossession of their property. This document is used to request a modification or restructuring of mortgage payments or other debt payments, and must be submitted to the lender or creditor in order to be considered. There are two main types of New York Loss-Mitigation Request — By Debtor: 1) Mortgage modification, and 2) Repayment plan. A mortgage modification request is a written request to modify the terms of a mortgage or other secured loan, such as reducing the interest rate or extending the repayment term. A repayment plan request is a written request to restructure debt payments to make them more manageable.
A New York Loss-Mitigation Request — By Debtor is a legal document that allows a debtor in New York State to restructure or reduce their debts in an effort to prevent foreclosure and repossession of their property. This document is used to request a modification or restructuring of mortgage payments or other debt payments, and must be submitted to the lender or creditor in order to be considered. There are two main types of New York Loss-Mitigation Request — By Debtor: 1) Mortgage modification, and 2) Repayment plan. A mortgage modification request is a written request to modify the terms of a mortgage or other secured loan, such as reducing the interest rate or extending the repayment term. A repayment plan request is a written request to restructure debt payments to make them more manageable.
